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Oct 14, 2012
10/12
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washington has run four straight years of trillion dollar deficit he has not cut the deficit in half of the was an office the gap between the revenue it took in 2.5 trillion of taxes but spent 3.5 trillion it is now going to hit the limit before the year is out. the each of $51,000. debt ceiling debate anybody? look at those numbers. of the nobel peace prize has done it again. none other than the european union. despite the debt crisis and poor fostering peace and democracy. joining me now is john browne he believes they do not deserve the award. we also have the opposing view. richard, i will read the review of the european union for over six decades continue to the event apiece and reconciliation and human-rights in europe. why do you think they chose the e.u.? >> first, you and i are young but if you look back 70 years they only had the balkans war. europe has been saved and pay it -peaceful. is a little aspiration all. that the european union do more. >> should you have the economies that were also? >> piece was insured by nato and the deterrent combined with the united kingdom i
washington has run four straight years of trillion dollar deficit he has not cut the deficit in half of the was an office the gap between the revenue it took in 2.5 trillion of taxes but spent 3.5 trillion it is now going to hit the limit before the year is out. the each of $51,000. debt ceiling debate anybody? look at those numbers. of the nobel peace prize has done it again. none other than the european union. despite the debt crisis and poor fostering peace and democracy. joining me now is...
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Oct 11, 2012
10/12
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and we' telling washington, you are running a trillion deficit for a fourth year in a row. you can borrow money almost for nothing, why not wait another year or two, who wants to take the fall? who wants to take the politic heat if you can borrow money from 70 basis pois for 5 years, that is what they are doing now. neil: building another bubble? >> a debt bubble. neil: bursthen a depression. >> i don't know, we've never been there before, we never had a tral bank tha -- central bankt printed this much money. neil: you don't think it can walk back the graveya much longer. >> i don't tnk so. neil: okay, if you have a lead suit, you buy it. david stock man, ronald reagan budget director. makes you think, you know we don't off don't this, we don't go long with a lot of guests, some we make an extension for, mr. stock man is among them, either agree or disagree, he makes you think. >> thank you. neil: we have a lot more after this, including with the spark miles card from capital one, thor's couture gets the most rewards of any small business credit card. your boa! [ garth ] th
and we' telling washington, you are running a trillion deficit for a fourth year in a row. you can borrow money almost for nothing, why not wait another year or two, who wants to take the fall? who wants to take the politic heat if you can borrow money from 70 basis pois for 5 years, that is what they are doing now. neil: building another bubble? >> a debt bubble. neil: bursthen a depression. >> i don't know, we've never been there before, we never had a tral bank tha -- central...
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the trade deficit's falling. they're diversifying away from europe. david: okay. that is, alec, i have to push you along, talk about grain of salt, i always take russia with a big grain of salt. frankly corruption problems, government getting involved in business always turn me off to russia you say they do well in the fourth quarter finally? >> they have as well, going back 20 years, russia averaged 3 1/2% monthly gain in the october, november, december time frame. that is versus 1.9% average gain for the broader emerging market space. on a seasonal basis russia has been very strong. although again people shouldn't just look at seasonals when making these decisions. david: alec young, great advice. from s&p captial iq. good to see you again. appreciate it. >> great. liz: always good to have alec. so engaged. he knows what he is talking about. one of these women is being named the sexiest woman alive. we'll tell you who when we go "off the desk.". oh where am i? david: you're there. you're there. plus one company bucking the trend, bringing manufacturing back to t
the trade deficit's falling. they're diversifying away from europe. david: okay. that is, alec, i have to push you along, talk about grain of salt, i always take russia with a big grain of salt. frankly corruption problems, government getting involved in business always turn me off to russia you say they do well in the fourth quarter finally? >> they have as well, going back 20 years, russia averaged 3 1/2% monthly gain in the october, november, december time frame. that is versus 1.9%...
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Oct 10, 2012
10/12
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because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay for it. if we can't trust him here... how could we ever trust him here? >>> it is time. it is time for the "lightning round." on cramer's you say the name -- >> buy, buy, buy! >> sell, sell, sell! >> when i play this sound -- [ buzzer ] >> -- and then the "lightning round" is over. are you ready, skee-daddy? let's start with dave in michigan. dave? >> caller: hey, jim, big detroit tiger boo-yah to you. >> nice. good luck. what is up? >> caller: hey, jim, agnc. i've got it in my retirement fund, and it's been dropping like a rock. and they're saying it's because of qe3. what do you think? >> look, there are issues involving the fact that these particular mortgage real estate investment trusts should not do as well in this particular environment. i think the yield, i think the dividend could go down a little, i don't know. to me, this one and anna lee, they have navigated almost every yield curve. i'm not going to back away from them. maggie in connecticut. >> caller: yes, jim, i
because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay for it. if we can't trust him here... how could we ever trust him here? >>> it is time. it is time for the "lightning round." on cramer's you say the name -- >> buy, buy, buy! >> sell, sell, sell! >> when i play this sound -- [ buzzer ] >> -- and then the "lightning round" is over. are you ready, skee-daddy? let's start with dave in...
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Oct 12, 2012
10/12
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compared to a $63 billion deficit in september last year. the swing due to some accounting items mainly. the biggest, a shift in $60 billion in some government benefit payments from september to august because of some holidays and timing issues. the administration is projecting an end to trillion dollar deficits for this fiscal year, 2013. which deban october 1st. in its last budget forecast a projected deficit of 2013, of just 991 billion. ashley: four years of a budget deficit top ad trillion dollars. that is remarkable. peter barnes, thank you. liz: came down a little. ashley: come on. liz: silver lining. ashley: we'll take it. up next, a look at stories you need to keep an eye on next week. liz: plus 99 cents only stores looking to move into some pretty expensive territory. better known for luxury shops like gucci, prada, louis vuitton. will they even let them in? we'll tell you where, stay tuned. ♪ ashley: let's go off the desk. mitt romney's call to end funding to pbs continues to ruffle some feathers. did you know big bird is part o
compared to a $63 billion deficit in september last year. the swing due to some accounting items mainly. the biggest, a shift in $60 billion in some government benefit payments from september to august because of some holidays and timing issues. the administration is projecting an end to trillion dollar deficits for this fiscal year, 2013. which deban october 1st. in its last budget forecast a projected deficit of 2013, of just 991 billion. ashley: four years of a budget deficit top ad trillion...
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Oct 13, 2012
10/12
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CNN
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deficit totals $1.4 trillion. it exceeded the $4 trillion mark. >>> jack kennedy and paul ryan, perfect together? some things about them that are similar. both young, energetic, vibrant. paul ryan things they have something in common, joe biden not so sure. the republican candidate invoked a camelot era comparison. this time, the issue taxes. >> you can cut tax rates by 20% and preserve important preferences for middle class taxpayers. >> not mathematically possible. >> it's been done before. >> it's never been done before. >> a couple of times. >> never been done before. >> ronald reagan. >> now you're jack kennedy. >> ronald reagan. >> twitter was atwitter about that. that comment got a noticeable reaction from the group of undecided voters i watched during the debate last night. see it blown up there in the bottom of the screen. here is the problem, both kennedy and reagan working in a different time and place. to start, when both kennedy and reagan took office, individual tax rates not even in the ballpark of
deficit totals $1.4 trillion. it exceeded the $4 trillion mark. >>> jack kennedy and paul ryan, perfect together? some things about them that are similar. both young, energetic, vibrant. paul ryan things they have something in common, joe biden not so sure. the republican candidate invoked a camelot era comparison. this time, the issue taxes. >> you can cut tax rates by 20% and preserve important preferences for middle class taxpayers. >> not mathematically possible....
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Oct 13, 2012
10/12
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we have a trillion deficit. why are we reducing tax rates at all. let's use it to our deficit reduction rather than lowering rates at the top. >> you know this as i did. when biden kept talking about raising taxes for people making a million or more as opposed to $250,000. >> that's a chuck schumer idea as well coming from new york. >> but all this should tell us is that before people go to the voting boothss, they're not going to know the answers to these questions. everyone would like to know the answers to these questions, but you have professional groups disagreeing about the economic impact of these things. so we don't really know. >> we have more clarity on the spending side where romney has said he wants to limit federal spending which would mean significant reductions in what the federal government does on a whole variety of fronts. even romney has said $500 billion a year in cuts by 2016. so that is a major difference that's out there. >> that's easier said than done as we know from covering congress for many years. >> and big bird is obvio
we have a trillion deficit. why are we reducing tax rates at all. let's use it to our deficit reduction rather than lowering rates at the top. >> you know this as i did. when biden kept talking about raising taxes for people making a million or more as opposed to $250,000. >> that's a chuck schumer idea as well coming from new york. >> but all this should tell us is that before people go to the voting boothss, they're not going to know the answers to these questions. everyone...
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Oct 12, 2012
10/12
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turning to the deficit the numbers are in the 2012 budget deficit is actually slightly better than expected. it was only 1.1 dollars, versus $1.1 trillion deficit. what a deal! it is a trillion dollars for every year president obama has been in office. we'll crunch the number to see what they mean for the average taxpayer. we have gretchen hamel from public notice. thanks for coming back on the program. it is a staggering number. not as horrible as it could have been. how would you characterize it? >> i think it is pretty bad. 42 out of the 4 months the president has been in office he has run a deficit. i think when we're $16 trillion in debt it has an effect on the economy. even most economists say when the debt is greater than 90% of the gdp you start to see a slowing. right now our debt is over 100% of our gdp. melissa: break down why you see the slowing. i think when we talk about these numbers to the average person it sounds like monopoly money. it is such a huge number you could never break it back. if you break it down, 3500 per person. 3468 to be exact. during the time president oba
turning to the deficit the numbers are in the 2012 budget deficit is actually slightly better than expected. it was only 1.1 dollars, versus $1.1 trillion deficit. what a deal! it is a trillion dollars for every year president obama has been in office. we'll crunch the number to see what they mean for the average taxpayer. we have gretchen hamel from public notice. thanks for coming back on the program. it is a staggering number. not as horrible as it could have been. how would you characterize...
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Oct 6, 2012
10/12
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i will not put in place a deficit thdea tax that adds to the deficit. my plan is not to put in place any tax cut that will add to the deficit. >> we want to look at the facts here, again. mitt romney has not laid out specifics for how he would pay for his tax cut. he says it's by reducing deductions and closing loopholes, but he hasn't said which or how many. so, the verdict here is simply incomplete. we just don't know. >> that was john burrman reporting there for us. one way, though, is that romney has said that he would actually pay for this reduced revenue is by capping itemized deductions, but still so few specifics. i mean, he floated the idea of capping deductions at 17,000 and then floated the idea of capping them at 25,000 or 50,000. don't voters deserve to know and need to know what it is going to be at this point? >> i think he's going to have to give more specifics, certainly. a debate may not be the best platform to give specifics because the answers are supposed to be short and, frankly, randi, he was able to get away with not giving many
i will not put in place a deficit thdea tax that adds to the deficit. my plan is not to put in place any tax cut that will add to the deficit. >> we want to look at the facts here, again. mitt romney has not laid out specifics for how he would pay for his tax cut. he says it's by reducing deductions and closing loopholes, but he hasn't said which or how many. so, the verdict here is simply incomplete. we just don't know. >> that was john burrman reporting there for us. one way,...
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Oct 10, 2012
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we have a $1 trillion deficit as far as the eye can see. hopefully democrats will be willing to give something on entitlement reform and republicans will be able to compromise on some of their issues as well. but this is not easy. this is not easy at all. that's why i think we all ought to give the gang of eight the widest possible latitude to come up with some type of a bipartisan compromise, but it won't be easy. >> handicap it, both of you. are we going to solve the fiscal cliff before we get to january 1? >> i think president obama holds all the cards here because basically if congress does nothing, the bush tax cuts are going to expire completely. and by the way, that would solve many of our fiscal problems over the next decade. let's remember, those bush tax cuts were meant to be temporary. temporary. >> you'd have to get rid of them for every single income level. >> i was just looking at percentage. >> we cannot afford them now. >> so you would raise taxes on the middle class as well? >> realistically, i think those bush tax cuts hav
we have a $1 trillion deficit as far as the eye can see. hopefully democrats will be willing to give something on entitlement reform and republicans will be able to compromise on some of their issues as well. but this is not easy. this is not easy at all. that's why i think we all ought to give the gang of eight the widest possible latitude to come up with some type of a bipartisan compromise, but it won't be easy. >> handicap it, both of you. are we going to solve the fiscal cliff before...
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Oct 10, 2012
10/12
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how are they going to cult the stuff that really impacts the debt and our deficit? this is a growing problem that can't be fixed with acalpal, time to
how are they going to cult the stuff that really impacts the debt and our deficit? this is a growing problem that can't be fixed with acalpal, time to
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Oct 10, 2012
10/12
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so mitt romney will cut the deficit by doing something that will add to the deficit. the other thing he brought up, pbs. the only specific that mitt romney gave in terms of how he will cut the deficit. the only detail he provided was that he would eliminate 1/100th of 1% of the budget. there have been lots of attempts to put the number in sper perspective. here's more. >> the federal share of the corporation for public broadcasting is about $450 million this year. that $450 million is about what the pentagon spends every six hours. >> six hours. to be clear, mr. romney and mr. ryan's idea for the deficit to save the country from fiscal disaster and pay for the stuff they want to do that's really expensive, their plan is to eliminate six hour's worth of defense spending. one-fourth of one day's worth of defense spending. at the same time, to make overall defense spending go like this. because, you know, they are the numbers guys. math. measure the growth of chn by the way they clean themselves in the bathroom. try charmin ultra strong. with a new duraclean texture, it
so mitt romney will cut the deficit by doing something that will add to the deficit. the other thing he brought up, pbs. the only specific that mitt romney gave in terms of how he will cut the deficit. the only detail he provided was that he would eliminate 1/100th of 1% of the budget. there have been lots of attempts to put the number in sper perspective. here's more. >> the federal share of the corporation for public broadcasting is about $450 million this year. that $450 million is...
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Oct 14, 2012
10/12
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CNN
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because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay for it. if we can't trust him here... how could we ever trust him here? capella university understands back from rough economic times. employees are being forced to do more with less. and the need for capable leaders is greater than ever. when you see these problems do you take a step back, or do you want to dive right in? with a degree in business from capella university, you'll have the knowledge to go further in your career than you ever thought possible. let's get started at capella.edu tyou wouldn't want your adoctor doing your job, hello... so why are you doing hers? only your doctor can determine if your persistent heartburn is actually something more serious like acid reflux disease. over time, stomach acid can damage the lining of your esophagus. for many, prescription nexium not only provides 24-hour heartburn relief, but can also help heal acid-related erosions in the lining of your esophagus. talk to your doctor about the risk for osteoporosis-related bone fractures
because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay for it. if we can't trust him here... how could we ever trust him here? capella university understands back from rough economic times. employees are being forced to do more with less. and the need for capable leaders is greater than ever. when you see these problems do you take a step back, or do you want to dive right in? with a degree in business from capella university, you'll have the...
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they've got some deficits they need to overcome. i want to go over a couple other numbers. it's all about the honesty and the truthfulness and then the consistency. let's start with the honest and truthful aspect. there you have obama leading romney 44-39 when it comes to just how honest and truthful you think these candidates are. then when it comes to consistency, which the obama campaign has been hammering away on what they perceive as flip-flops, 47-37. that is what some people, hogan, my dear friend, former intern, which i always like to disclose, is a trust deficit. is it? >> well, so much of american politics is based on do i know you, do i trust you and do i like you? those are some damaging numbers for governor romney for sure. but look, the fact of the matter is he crushed president obama in that debate and these numbers are reflecting what a lot of people saw, and that was a stereotype that had been lined out about governor romney that he was some cold heartless businessman. he turned that on its ear. conversely, one of the stereotypes out for president obama is
they've got some deficits they need to overcome. i want to go over a couple other numbers. it's all about the honesty and the truthfulness and then the consistency. let's start with the honest and truthful aspect. there you have obama leading romney 44-39 when it comes to just how honest and truthful you think these candidates are. then when it comes to consistency, which the obama campaign has been hammering away on what they perceive as flip-flops, 47-37. that is what some people, hogan, my...
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Oct 10, 2012
10/12
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as far as the tax plan, look, he has said he will not pass a tax plan that is not deficit neutral. he's been very clear about this. his principles are do not change or modify the share of taxes paid at the upper income level, reduce the tax burden on the middle income level, cut rates across the board, particularly so you can create a more welcoming environment for small businesses, reduce the tax burden on small businesses, which are responsible for a disproportionate percentage of employment in this country, and you can do a lot of this by generating growth, getting rid of deductions, getting rid of a lot of the credits, getting rid of a lot of the loopholes and that is the plan he will put forward to congress. >> here's the thing. dan, here's the thing. nobody disputes that he intends to do some of this. what we don't know is how he intends to do it, and the specifics and until we get that, i think barack obama is perfectly entitled at the next two debates to take him on it, say hang on, you're cutting taxes by $5 trillion but what are you actually going to do to make up the $5
as far as the tax plan, look, he has said he will not pass a tax plan that is not deficit neutral. he's been very clear about this. his principles are do not change or modify the share of taxes paid at the upper income level, reduce the tax burden on the middle income level, cut rates across the board, particularly so you can create a more welcoming environment for small businesses, reduce the tax burden on small businesses, which are responsible for a disproportionate percentage of employment...
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Oct 9, 2012
10/12
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-- new deficit neutral. no cost to the deficit and cutting $5 trillion mainly for the wealthy. let's watch. >> with regards to that tax cut, look, i'm not looking to cut massive taxes and to reduce the revenues going to the government. my number one principle is there will be no tax cut that adds to the deficit. i want to underline that. no tax cut that adds to the deficit. >> paul ryan just days before the debate last week directly contradicted romney. ryan said lowering the tax rates was more important than anything else, including getting rid of those deductions to pay for them supposedly. let's watch. >> what's most important to romney, what would he scale back on the 20% tax cut for the wealthy? would he scale back and say, okay, we're going to have to raise taxes for the middle class? i guess the question is what's most important to him in his tax reform plan -- >> keeping tax rates down. by lowering tax rates, people keep more of the next dollar they earn. >> that's more important -- >> that's more im
-- new deficit neutral. no cost to the deficit and cutting $5 trillion mainly for the wealthy. let's watch. >> with regards to that tax cut, look, i'm not looking to cut massive taxes and to reduce the revenues going to the government. my number one principle is there will be no tax cut that adds to the deficit. i want to underline that. no tax cut that adds to the deficit. >> paul ryan just days before the debate last week directly contradicted romney. ryan said lowering the tax...
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gerri: romney's court in that debate on issues that he really wanted to talk about, jobs and the deficit. my understanding is that you just looked at this today and found obama scored 20 on the deficit and romney scored 41. when the team to jobs, 24357. run the way out ahead. >> obama keeps saying, romney's test plan will go below this $5 trillion : the budget. the other line, i have this $4 trillion plan. there is no plan. i have to blame people in the media. they are correctly pressing romney to be more specific about his plans, but i don't think that the press has been even handed in asking barack obama about his plan. you keep saying have a $4 trillion plant. i have not seen it. >> here is another issue along those lines. the president has gone so negative year. calling romney a liar which is something you don't typically do. >> i live in virginia, so we are just saturated. everytime you turn of the tv. football game, fox news. one after another, and these guys almost all of the obama ads are-. and that -- and not so sure that works so well for an incumbent is to go after the opponen
gerri: romney's court in that debate on issues that he really wanted to talk about, jobs and the deficit. my understanding is that you just looked at this today and found obama scored 20 on the deficit and romney scored 41. when the team to jobs, 24357. run the way out ahead. >> obama keeps saying, romney's test plan will go below this $5 trillion : the budget. the other line, i have this $4 trillion plan. there is no plan. i have to blame people in the media. they are correctly pressing...
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work, it does not seem to work, and everyone knows the actual tax hikes will do almost nothing for the deficit. so it is just kind of catnip for the left. let's raise taxes on the rich. class warfare. i don't think it is a successful economic strategy, and i'm not sure it will or politically either. gerri: interesting days. that is for sure. you will have you back to talk more. when we come back to be searching for a deal, but prescription drugs online presents a all new sets of problems. we will explain. an age-old question resurfacing. can women have it all? are we dissing mother had? this is going to be a panel. you will love it. it will be a lot of fun. ♪ [ male announcer ] this is the age of knowing what you're made of. why let erectile dysfunction get in your way? talk to your doctor about viagra. ask if your heart is healthy enough for sex. do not take viagra if you take nitrates for chest pain; it may cause an unsafe drop in blood pressure. side effects include headache, flushing, upset stomach, and abnormal vision. to avoid long-term injury, seek immediate medical help for an erecti
work, it does not seem to work, and everyone knows the actual tax hikes will do almost nothing for the deficit. so it is just kind of catnip for the left. let's raise taxes on the rich. class warfare. i don't think it is a successful economic strategy, and i'm not sure it will or politically either. gerri: interesting days. that is for sure. you will have you back to talk more. when we come back to be searching for a deal, but prescription drugs online presents a all new sets of problems. we...
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Oct 9, 2012
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there's no real difference, but maybe the republicans would be better for the deficit. maybe the republicans would spend less. check this out. this is what mitt romney is proposing for spending on the military. ta da! people say there's no real difference between the candidates? holy mackerel. when you're talking about the biggest pile of money in the whole world, the largest amount of discretionary money spent on anything by our government, boy howdy is there a difference here. but for a guy who wants to be thought of as cheap, as thrifty, for his campaign to be thought of as tough on spending, to be proposing that radical a spike in a pile of money that's already unimaginably enormous, to get us back to korean war levels of spending and then some, he must really have some big idea he's really committed to to justify that. to justify such a radical change in expense. he must, right? this must be something he he knows a lot about and cares a lot about. right? >> about our commitment to our military effort in terms of building a military that's prepared for the eventuali
there's no real difference, but maybe the republicans would be better for the deficit. maybe the republicans would spend less. check this out. this is what mitt romney is proposing for spending on the military. ta da! people say there's no real difference between the candidates? holy mackerel. when you're talking about the biggest pile of money in the whole world, the largest amount of discretionary money spent on anything by our government, boy howdy is there a difference here. but for a guy...
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Oct 14, 2012
10/12
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not raise the deficit and not reduce the share of taxes paid by the wealthy. the tax policy center which is an independent nonpartisan group has looked at the number and said those three things cannot be done at the same time, because if you cut taxes by 2 , 20%--so romney still has to explain how all of this would all add up without assuming an elevated level of economic growth which the congressional budget office does not do when they calculate a tax plan. so there's still that question on him and he has not fully answered it. and again, if the math is wrong, i think you need more specifics about what deductions he would remove to show that the math adds up with what he wants to do. >> this tuesday, the contenders square off, 7:00 p.m. eastern time is when our coverage begins and the debate will be moderated by cnn's candy crowley. >>> because of its questionable voter registration tactics in florida, here's cnn's joe johns. >> he's a veteran gop operative who just doesn't seem to go away. just a few weeks ago a wave of bad publicity hit -- disavowed by the
not raise the deficit and not reduce the share of taxes paid by the wealthy. the tax policy center which is an independent nonpartisan group has looked at the number and said those three things cannot be done at the same time, because if you cut taxes by 2 , 20%--so romney still has to explain how all of this would all add up without assuming an elevated level of economic growth which the congressional budget office does not do when they calculate a tax plan. so there's still that question on...
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governor romney says he will not increase the deficit with his tax cut, will not increase taxes on the middle class, so is he saying that if he cannot come up with enough loopholes and deductions, closing the deductions to pay for the tax cuts, which amount to about $5 trillion he will scale them back? >> what he has said, george, he is going to cut tax rates across the board by 20% and offset those cuts with eliminating deductions and loopholes for the upper income families. >> but there aren't enough deductions to pay for that. >> for the middle class families. you can pay for it. there are six studies that say you can do that. you can broaden the base and lower the rates. that would foster economic growth, and we've done that in the past. there's one study that says that you can -- that uses the word assume or assumption 68 times by liberal think tank and that's what gibbs and others point to. >> if it does turn out that the deductions do not make up for the cost of the tax cuts, does governor romney say he will scale back the tax cuts? >> what he has said is it's going to be -- he'
governor romney says he will not increase the deficit with his tax cut, will not increase taxes on the middle class, so is he saying that if he cannot come up with enough loopholes and deductions, closing the deductions to pay for the tax cuts, which amount to about $5 trillion he will scale them back? >> what he has said, george, he is going to cut tax rates across the board by 20% and offset those cuts with eliminating deductions and loopholes for the upper income families. >> but...
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Oct 12, 2012
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the fy-2012 deficit was $1.89 trillion, $207 billion less than the 2011 deficit. the 2012 deficit came in lower than previously forecasted as the treasury department and omb. $121 billion less than forecasted at the mid session review. as a percentage of gdp, says treasury and omb, the fy-2012 deficit was 7% down from 8.7% in fy-2011. the reduction from last year was due to higher receipts and lower outlays resulting in part from a stronger economy. also, a statement from treasury secretary tim geithner accompanying the release of these budget details. quote, the president has put forward a balanced proposal to further strengthen the economy and reduce the country's future deficits. it's time for congress to act on those necessary steps to it help sustain economic growth for years to come. of course, to add the fuel to the budget and deficit debate, fiscal cliff, and obviously ahead of next week's all-important debate between president obama and mitt romney. back to you guys. >> it's going to be fodder for our next conversation, i'm thinking. >> absolutely. right
the fy-2012 deficit was $1.89 trillion, $207 billion less than the 2011 deficit. the 2012 deficit came in lower than previously forecasted as the treasury department and omb. $121 billion less than forecasted at the mid session review. as a percentage of gdp, says treasury and omb, the fy-2012 deficit was 7% down from 8.7% in fy-2011. the reduction from last year was due to higher receipts and lower outlays resulting in part from a stronger economy. also, a statement from treasury secretary tim...
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why didn't we go forward with a plan to reduce the deficit. these guys have been in charge for four years and they don't have a lot to show for it. >> steven, that sounds like an invitation to get lost in the weeds to become the policy wonk that we know both of these two gentlemen are, and let's be honest this is about trying to convince a married woman somewhere in ohio to go republican or democrat versus the other way. how is that going to play? how are details going to play at all tonight? >> i think it's important to have details, just as we saw in the last debate. i think while you could easily get lost in the weeds, i think people came away with an impression as to what each side stood for. i would just say with respect to carly's comments it's not true that obama and biden do not have a budget. they have one. it's called the fiscal year 13 budget they put out that goes into excruciating detail, far more detail than romney and ryan has gone into as to how they would achieve substantial deficit reduction over the next ten years. the presi
why didn't we go forward with a plan to reduce the deficit. these guys have been in charge for four years and they don't have a lot to show for it. >> steven, that sounds like an invitation to get lost in the weeds to become the policy wonk that we know both of these two gentlemen are, and let's be honest this is about trying to convince a married woman somewhere in ohio to go republican or democrat versus the other way. how is that going to play? how are details going to play at all...
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you know, these deficits are struggling. lou: you are campaigning for governor romney in ohio. he will continue to do so. in ohio, when they have a 7.2% unemployment rate -- they are enjoying a far better recovery from the recession that nearly all of the country. what is the most persuasive message that you can take to the voters they are? >> well, i think in the state of utah, we are doing well in spite of what washington is doing. but it's not going to be too long. we are all going to bear the burdens that the president has put on us. we will feel the pain the president has put on us. we are doing well in spite of barack obama, nothing thinking is what happened in ohio. what we need to do is we need to get people on their feet and ready to go, get them fired up. it is obvious that during the debate, barack obama has no idea how to get the economy going. mitt romney definitely knows the country this country needs to take the one thank you for joining us, mia love. critics may have panned a new liam neeson movie. a break and $50 million in its debut, doubling the opening week.
you know, these deficits are struggling. lou: you are campaigning for governor romney in ohio. he will continue to do so. in ohio, when they have a 7.2% unemployment rate -- they are enjoying a far better recovery from the recession that nearly all of the country. what is the most persuasive message that you can take to the voters they are? >> well, i think in the state of utah, we are doing well in spite of what washington is doing. but it's not going to be too long. we are all going to...
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midterm elections concerned raising taxes on the rich as a way to reduce the nation's record budget deficit. but for president reagan's former budget director david stockman, raising taxes on the rich isn't nearly enough to cure what ails the u.s. economy. in october 2010, stockman told lesley stahl that all tax cuts implemented by president george w. bush should be eliminated, even those on the middle class, and that his own republican party has gone too far with its anti-tax religion. >> tax cutting is a religion. what do you mean by that? >> well, it's become, in the sense, an absolute-- something that can't be questioned, something that's gospel, something that's sort of embedded in the catechism. and so scratch the average republican today, and he'll say, "tax cuts, tax cuts, tax cuts." >> cut taxes. >> cutting taxes. >> make the tax cuts permanent. >> it's rank demagoguery. we should call it for what it is. if these people were all put into a room on penalty of death to come up with how much they could cut, they couldn't come up with $50 billion when the problem is $1.3 trillion. so t
midterm elections concerned raising taxes on the rich as a way to reduce the nation's record budget deficit. but for president reagan's former budget director david stockman, raising taxes on the rich isn't nearly enough to cure what ails the u.s. economy. in october 2010, stockman told lesley stahl that all tax cuts implemented by president george w. bush should be eliminated, even those on the middle class, and that his own republican party has gone too far with its anti-tax religion....
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biggest debt and deficits as a share of gdp facing the country since world war ii. this election will have particularly rofund consequences on text market next year. >> you're looking for a profound pull back in the s&p. we're talking 100 points. 1360 is where your target is. what's that predicated on? >> a lot is the election and earnings environment. if we take the election and set it aside for now the earnings environment is deteriorating more than investors are willing to cop to at this point. first, fourth quarter of this year, we're supposed to see a remarkable recovery in earnings which i think is highly unlikely considering the macro economic climate. then an earnings kbroet in 2014. so with this fiscal uncertainty, investors have gotten a little bit ahead of themselves in terms of optimism. >> your overstating the election's impact on what the stock market will do? we had jack vogel on at the top of the show that said the market will get it wrong. >> that's possible the market gets it wrong depending on the outcome of the election. clearly this is a very ti
biggest debt and deficits as a share of gdp facing the country since world war ii. this election will have particularly rofund consequences on text market next year. >> you're looking for a profound pull back in the s&p. we're talking 100 points. 1360 is where your target is. what's that predicated on? >> a lot is the election and earnings environment. if we take the election and set it aside for now the earnings environment is deteriorating more than investors are willing to...
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i am going to blow the deficit up even larger. and by the way, all republicans, almost all republicans nationwide said we want to repeal row-wade and now says actually if you elect me, no chance. >> if we get too much caught up on him being moderate or being conservative, i'm not sure that the democrats taking advantage. where they've taken advantage is show him as someone without a consistent point of view willing to say anything because the president has to be someone who makes tough decisions even when they're unpop ulular. we'll see if that plays out. >> the bottom line he is more conservative than president obama. >> are you sure? >> absolutely. and conservatives know with a mitt romney in the white house they will get more conservative judges in federal positions. they will get -- they probably won't get, you know, the executive orders allowing international funding of abortion. that's the choice. >> that is true. of course that's true. but nobody has a problem with someone changing their mind given new information or a new
i am going to blow the deficit up even larger. and by the way, all republicans, almost all republicans nationwide said we want to repeal row-wade and now says actually if you elect me, no chance. >> if we get too much caught up on him being moderate or being conservative, i'm not sure that the democrats taking advantage. where they've taken advantage is show him as someone without a consistent point of view willing to say anything because the president has to be someone who makes tough...
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get deficit and debt under control. make trade work for america to make more things in america and sell them overseas and champion small businesses. don't raise taxes on small businesses because they are the job creators. he talked about detroit. mitt romney's a car guy. they keep misquoting him. the mitt romney i know is a guy who i was talking to a family in massachusetts the other day, sheryl and mark nixson. their kids hit in a car crash, two of them parollized. mitt wanted to come over on christmas bringing his boys, his wife, and gifts. later on he said i know you're struggling, mark, don't worry about college. i'll pay for it. when mark told me the story because mitt doesn't tell the stories. when i was told the story, he said it was not the cash help, but that he gave his time and he has consistently. this is a map who gave 30% of the income to charity, more than the two of us combined. mitt romney's a good man and cares about 100% of americans in the country. with respect to that quote, i think the vice preside
get deficit and debt under control. make trade work for america to make more things in america and sell them overseas and champion small businesses. don't raise taxes on small businesses because they are the job creators. he talked about detroit. mitt romney's a car guy. they keep misquoting him. the mitt romney i know is a guy who i was talking to a family in massachusetts the other day, sheryl and mark nixson. their kids hit in a car crash, two of them parollized. mitt wanted to come over on...
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going after what has been the biggest driver of our debt and deficit over the last decade. public television. pbs. >> these are tough times with big issues so scrooch your head talking about big bird. >> bret: my tw two-and-a-half-year-old is excited about. this i don't know how many people are that big bird is in the news. he is. all over the news. the big news today perhaps the polls, gasolineup will poll today is now likely voters. they transitioned from registered voters to likely voters. that is a difference. we talk about it before. romney two-point lead. margin of error is tied. first time in a year, real clear politic average, he has the lead in the average of recent polls. what about this? the panel, jonah goldberg, from national review online. kirsten powers for daily beast. syndicated columnist charles krauthammer. charles, today's developments and well, big bird. >> democrats are actually running an ad showing big bird and contracting it with the bad guys on wall street. >> let's just play it. might as well. >> i'm just a prop here. >> bret: right. you're teeing
going after what has been the biggest driver of our debt and deficit over the last decade. public television. pbs. >> these are tough times with big issues so scrooch your head talking about big bird. >> bret: my tw two-and-a-half-year-old is excited about. this i don't know how many people are that big bird is in the news. he is. all over the news. the big news today perhaps the polls, gasolineup will poll today is now likely voters. they transitioned from registered voters to...
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. >> coming up, will our children hate us because of our debt and deficit? the architect of greece's debt deal is here with a warning letter later on the "closing bell." >>> also coming up, nightmare in california. why the golden state is the only one in the country to see higher pump prices over the past couple of weeks and what that could mean for the rest of us. >>> up next, mixed signals. major averages may be near multihighs but we'll make sense out of the good and ugly. i'm an expert on softball. and tea parties. i'll have more awkward conversations than i'm equipped for because i'm raising two girls on my own. i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. massmutual is owned by our policyholders so they matter most to us. massmutual. we'll help you get there. tdd#: 1-800-345-2550 let's talk about low-cost investing. tdd#: 1-800-345-2550 at schwab, we're committed to offering you tdd#: 1-800-345-2550 low-cost investment options-- tdd#: 1-
. >> coming up, will our children hate us because of our debt and deficit? the architect of greece's debt deal is here with a warning letter later on the "closing bell." >>> also coming up, nightmare in california. why the golden state is the only one in the country to see higher pump prices over the past couple of weeks and what that could mean for the rest of us. >>> up next, mixed signals. major averages may be near multihighs but we'll make sense out of the...
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on a day in which the congressional budget office announced the 2012 budget deficit came in at $11 trillion for a fourth straight year, turns out our out of control spending includes roughly $450 million given every year to the corporation for public broadcasting, $8 million of that going to, that's right, sesame workshop and big bird. it appears easy to dismiss millions of dollars when the government faces trillion of dollars in debt. the left may be cute with a call to end funding for public broadcasting, but here's the homework the left should have done before they and president obama began their reflective aattacks. they are $388 million in assets now. in merchandise sales alone, it brought in $45 million, five times what it received in government grants. that little cute sesame workshop turns out to be a moneymaker producing hundreds of millions of dollars. we take all of that up tonight with former george bush senior adviser carl rove, and as well, the unemployment rate falling to 7.8%, employers adding just 114,000 jobs. we're talking about that, and, yes, big bird too with the congr
on a day in which the congressional budget office announced the 2012 budget deficit came in at $11 trillion for a fourth straight year, turns out our out of control spending includes roughly $450 million given every year to the corporation for public broadcasting, $8 million of that going to, that's right, sesame workshop and big bird. it appears easy to dismiss millions of dollars when the government faces trillion of dollars in debt. the left may be cute with a call to end funding for public...
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so it creates a type of deficit disorder. so reading something, you're looking, clicking through, moving on, having five screens open at once. and finally, it is replacing real-life relationships and real-life communication skills. it reduces social intelligence and emotional intelligence, because you're just busy taking in information. >> but won't we adjust? i mean, humans adjust, as time progresses you will adjust to it. >> you will adjust to having more faulty real-life relationships, yes. >> i noticed people used to go to a coffee shop, or a bar, to hang out with people. now, people are chatting on line. is this a real thing? or are we just caught up in this addict society? or an addict nation? because everybody is addicted to something. >> you know it is a new substance to become addicted to. but people who are unable to self-regulate, and experience the withdrawals, it is a very real thing, don. >> so are there people who specialize in the behavior? >> anybody who experiences it can be treated, but look at your own fam
so it creates a type of deficit disorder. so reading something, you're looking, clicking through, moving on, having five screens open at once. and finally, it is replacing real-life relationships and real-life communication skills. it reduces social intelligence and emotional intelligence, because you're just busy taking in information. >> but won't we adjust? i mean, humans adjust, as time progresses you will adjust to it. >> you will adjust to having more faulty real-life...
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balance is we have to get romney to bigger deficits. they do not take them and they just received really must get the point across about how it affects him. we love hearing from you. send me an e-mail and gerri@foxbussiness.com. finally, helping the homeless. it has been a growing problem for decades. the big apple has more than 46,000 homeless people in the city, 14% of the nation's homeless population. for some context, l.a. is second with just 3%. as a result, michael bloomberg has opened 10 new homeless shelters in recent months. chelsea and greenpoint. all of you non-new yorkers out there, residents are fuming, saying that these areas are now unsafe and dirty. bloomberg says it's the nature. with unemployment so high, these people need to go somewhere, but i do find it curious within the neighborhood that i mentioned so far, could it be because that is where mr. bloomberg lives? that is my "two cents more". coming up tomorrow, as vice president joe bide
balance is we have to get romney to bigger deficits. they do not take them and they just received really must get the point across about how it affects him. we love hearing from you. send me an e-mail and gerri@foxbussiness.com. finally, helping the homeless. it has been a growing problem for decades. the big apple has more than 46,000 homeless people in the city, 14% of the nation's homeless population. for some context, l.a. is second with just 3%. as a result, michael bloomberg has opened 10...